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Biggest SME IPO Failures in India 2018

The performance of an IPO is measured based on its price movements on the listing day. When the closing price of the IPO on the listing day is below the issue price, the IPO is said to have flopped.

The listing day is viewed as an important day for many investors who wish to make quick profits by selling the IPO shares on that day. The real demand and value of the share gets assessed on the listing day when the share becomes accessible to all who missed to buy the IPO shares or did not get an allotment.

An IPO can fail on account of many factors that may include issue with company fundamentals, management, wrong timing, incorrect valuation, lack of planning, etc. Thus, an investor should assess the company well before investing the hard earned money.

Biggest SME IPO Flops 2018

Issuer Company Issue Type Listing Date Issue Size Subscribed Issue Price Listing Day Price Current Price 52 Week High 52 Week Low
U. H. Zaveri LimitedU. H. Zaveri Limited IPO detailU. H. Zaveri Limited Share Price, Chart and TipsSMEMay 22, 2018Rs 7.99 Cr2.83xRs 36.00Rs 25.65 (-28.75%)Rs 18.73 (-47.97%)Rs 80.10 (May 11, 2023)Rs 18.70 (Jul 03, 2024)
Ashoka Metcast LimitedAshoka Metcast Limited IPO detailAshoka Metcast Limited Share Price, Chart and TipsSMEFeb 05, 2018Rs 12.00 Cr1.57xRs 20.00Rs 16.00 (-20%)Rs 20.25 (1.25%)Rs 35.70 (Jan 01, 2024)Rs 16.60 (Jun 30, 2023)
CRP Risk Management LtdCRP Risk Management Ltd IPO detailCRP Risk Management Ltd Share Price, Chart and TipsSMEJan 31, 2018Rs 30.82 Cr2.27xRs 60.00Rs 49.70 (-17.17%)Rs 10.68 (-82.2%)Rs 35.25 (Mar 05, 2024)Rs 9.71 (Jun 19, 2024)
Sarveshwar Foods LtdSarveshwar Foods Ltd IPO detailSarveshwar Foods Ltd Share Price, Chart and TipsSMEMar 15, 2018Rs 54.97 Cr1.64xRs 85.00Rs 70.55 (-17%)Rs 9.83 (15.65%)Rs 15.55 (Feb 28, 2024)Rs 2.19 (Jul 14, 2023)
S K S Textiles LimitedS K S Textiles Limited IPO detailS K S Textiles Limited Share Price, Chart and TipsSMEJan 19, 2018Rs 13.32 Cr15.01xRs 150.00Rs 133.35 (-11.1%)Rs 13.05 (-91.3%)
Tara Chand Logistic Solutions LtdTara Chand Logistic Solutions Ltd IPO detailTara Chand Logistic Solutions Ltd Share Price, Chart and TipsSMEMar 23, 2018Rs 20.46 Cr2.76xRs 55.00Rs 49.05 (-10.82%)Rs 498.30 (Jun 18, 2024)Rs 268.40 (Apr 26, 2024)
Powerful Technologies LimitedPowerful Technologies Limited IPO detailPowerful Technologies Limited Share Price, Chart and TipsSMEAug 28, 2018Rs 13.55 Cr1.3xRs 51.00Rs 45.60 (-10.59%)
SoftTech Engineers LimitedSoftTech Engineers Limited IPO detailSoftTech Engineers Limited Share Price, Chart and TipsSMEMay 11, 2018Rs 22.81 Cr30.82xRs 80.00Rs 72.00 (-10%)Rs 372.85 (366.06%)Rs 379.00 (Jun 27, 2024)Rs 138.05 (Aug 03, 2023)
Ahlada Engineers LtdAhlada Engineers Ltd IPO detailAhlada Engineers Ltd Share Price, Chart and TipsSMEOct 27, 2018Rs 51.08 Cr2.35xRs 150.00Rs 136.00 (-9.33%)Rs 167.35 (May 28, 2024)Rs 90.65 (Mar 14, 2024)
Rithwik Facility Management Services LtdRithwik Facility Management Services Ltd IPO detailRithwik Facility Management Services Ltd Share Price, Chart and TipsSMEJan 11, 2018Rs 4.05 CrRs 50.00Rs 45.45 (-9.1%)Rs 117.95 (135.9%)Rs 138.90 (Apr 29, 2024)Rs 69.50 (Oct 05, 2023)
Lorenzini Apparels LimitedLorenzini Apparels Limited IPO detailLorenzini Apparels Limited Share Price, Chart and TipsSMEFeb 15, 2018Rs 4.47 Cr1.71xRs 10.00Rs 9.25 (-7.5%)Rs 21.70 (2070%)Rs 29.00 (Apr 05, 2024)Rs 0.71 (Jul 17, 2023)
Marshall Machines LimitedMarshall Machines Limited IPO detailMarshall Machines Limited Share Price, Chart and TipsSMESep 07, 2018Rs 16.25 Cr2.25xRs 42.00Rs 39.30 (-6.43%)Rs 63.16 (Jun 01, 2023)Rs 22.85 (Apr 01, 2024)
Inflame Appliances LtdInflame Appliances Ltd IPO detailInflame Appliances Ltd Share Price, Chart and TipsSMEMar 16, 2018Rs 6.48 CrRs 54.00Rs 50.70 (-6.11%)Rs 483.60 (795.56%)Rs 730.00 (Sep 04, 2023)Rs 346.00 (Mar 13, 2024)
Godha Cabcon & Insulation LimitedGodha Cabcon & Insulation Limited IPO detailGodha Cabcon & Insulation Limited Share Price, Chart and TipsSMEMay 11, 2018Rs 9.90 Cr1.39xRs 33.00Rs 31.00 (-6.06%)Rs 1.01 (-69.39%)Rs 1.25 (Jul 11, 2023)Rs 0.45 (Nov 08, 2023)
Ultra Wiring Connectivity Systems LimitedUltra Wiring Connectivity Systems Limited IPO detailUltra Wiring Connectivity Systems Limited Share Price, Chart and TipsSMEOct 26, 2018Rs 4.82 Cr1.94xRs 35.00Rs 33.20 (-5.14%)Rs 92.40 (164%)
Shree Krishna Infrastructure LimitedShree Krishna Infrastructure Limited IPO detailShree Krishna Infrastructure Limited Share Price, Chart and TipsSMEDec 03, 2018Rs 1.17 Cr2.93xRs 13.00Rs 12.35 (-5%)Rs 84.84 (552.62%)Rs 102.53 (May 09, 2024)Rs 51.00 (Aug 30, 2023)
Lagnam Spintex LimitedLagnam Spintex Limited IPO detailLagnam Spintex Limited Share Price, Chart and TipsSMESep 18, 2018Rs 24.60 Cr4.97xRs 41.00Rs 38.95 (-5%)Rs 163.25 (May 02, 2024)Rs 47.40 (Jun 30, 2023)
Akshar Spintex LimitedAkshar Spintex Limited IPO detailAkshar Spintex Limited Share Price, Chart and TipsSMEMay 11, 2018Rs 26.99 Cr5.49xRs 40.00Rs 38.00 (-5%)Rs 2.58 (-35.5%)Rs 7.08 (Aug 01, 2023)Rs 2.15 (Apr 01, 2024)
Dr Lalchandani Labs LimitedDr Lalchandani Labs Limited IPO detailDr Lalchandani Labs Limited Share Price, Chart and TipsSMEMay 09, 2018Rs 4.20 Cr4.96xRs 30.00Rs 28.50 (-5%)Rs 23.69 (-21.03%)Rs 35.00 (Nov 09, 2023)Rs 15.68 (Mar 26, 2024)
Waa Solar LimitedWaa Solar Limited IPO detailWaa Solar Limited Share Price, Chart and TipsSMEJun 12, 2018Rs 28.18 Cr1.85xRs 161.00Rs 153.15 (-4.88%)Rs 181.85 (12.95%)Rs 261.80 (May 10, 2024)Rs 68.01 (Jul 19, 2023)
S. M. Gold LimitedS. M. Gold Limited IPO detailS. M. Gold Limited Share Price, Chart and TipsSMEOct 19, 2018Rs 7.50 Cr1.1xRs 30.00Rs 28.60 (-4.67%)Rs 17.21 (-42.63%)Rs 23.88 (Oct 06, 2023)Rs 13.46 (Aug 18, 2023)
Gautam Gems LimitedGautam Gems Limited IPO detailGautam Gems Limited Share Price, Chart and TipsSMEFeb 07, 2018Rs 7.56 Cr5.2xRs 36.00Rs 34.60 (-3.89%)Rs 8.56 (-76.22%)Rs 14.35 (Nov 12, 2023)Rs 7.97 (Jun 03, 2024)
Sungold Media and Entertainment LimitedSungold Media and Entertainment Limited IPO detailSungold Media and Entertainment Limited Share Price, Chart and TipsSMEAug 27, 2018Rs 1.35 Cr2.02xRs 10.00Rs 9.71 (-2.9%)Rs 22.10 (121%)Rs 31.80 (Jul 27, 2023)Rs 16.30 (Jan 24, 2024)
Lex Nimble Solutions LtdLex Nimble Solutions Ltd IPO detailLex Nimble Solutions Ltd Share Price, Chart and TipsSMEApr 04, 2018Rs 6.34 Cr1.12xRs 57.00Rs 55.35 (-2.89%)Rs 70.49 (23.67%)Rs 76.50 (Apr 24, 2024)Rs 55.00 (Aug 09, 2023)
Medico Remedies LtdMedico Remedies Ltd IPO detailMedico Remedies Ltd Share Price, Chart and TipsSMEFeb 08, 2018Rs 10.99 Cr1.84xRs 100.00Rs 97.15 (-2.85%)Rs 39.56 (97.8%)Rs 92.95 (Dec 15, 2023)Rs 34.80 (Jun 05, 2024)
Rajshree Polypack LimitedRajshree Polypack Limited IPO detailRajshree Polypack Limited Share Price, Chart and TipsSMESep 24, 2018Rs 35.52 Cr5.36xRs 120.00Rs 116.60 (-2.83%)Rs 72.98 (-39.18%)Rs 129.50 (Mar 06, 2024)Rs 49.68 (Aug 07, 2023)
Arihant Institute LimitedArihant Institute Limited IPO detailArihant Institute Limited Share Price, Chart and TipsSMEJun 05, 2018Rs 7.50 Cr2.2xRs 30.00Rs 29.25 (-2.5%)Rs 1.56 (-94.8%)
Manorama Industries LimitedManorama Industries Limited IPO detailManorama Industries Limited Share Price, Chart and TipsSMEOct 04, 2018Rs 64.00 Cr1.08xRs 188.00Rs 183.65 (-2.31%)Rs 646.45 (1619.28%)Rs 729.50 (Jun 19, 2024)Rs 300.00 (Jun 30, 2023)
Benara Bearings & Pistons LtdBenara Bearings & Pistons Ltd IPO detailBenara Bearings & Pistons Ltd Share Price, Chart and TipsSMEApr 03, 2018Rs 33.49 Cr1.91xRs 63.00Rs 61.95 (-1.67%)Rs 15.82 (-74.89%)Rs 26.75 (Feb 08, 2024)Rs 11.99 (Sep 01, 2023)
Solex Energy LimitedSolex Energy Limited IPO detailSolex Energy Limited Share Price, Chart and TipsSMEFeb 05, 2018Rs 7.18 Cr20.21xRs 52.00Rs 51.20 (-1.54%)Rs 1,449.75 (2687.98%)
Milestone Furniture LimitedMilestone Furniture Limited IPO detailMilestone Furniture Limited Share Price, Chart and TipsSMEMay 21, 2018Rs 14.84 CrRs 45.00Rs 44.45 (-1.22%)Rs 8.42 (-81.29%)Rs 9.99 (Jul 01, 2024)Rs 3.51 (Mar 28, 2024)
Continental Seeds and Chemicals LtdContinental Seeds and Chemicals Ltd IPO detailContinental Seeds and Chemicals Ltd Share Price, Chart and TipsSMEApr 04, 2018Rs 4.21 Cr1.46xRs 26.00Rs 25.75 (-0.96%)Rs 25.10 (-3.46%)
Suumaya Lifestyle LimitedSuumaya Lifestyle Limited IPO detailSuumaya Lifestyle Limited Share Price, Chart and TipsSMEJun 04, 2018Rs 3.40 Cr1.44xRs 18.00Rs 17.85 (-0.83%)Rs 11.00 (Jan 31, 2024)Rs 5.44 (Jun 28, 2024)
CKP Leisure LimitedCKP Leisure Limited IPO detailCKP Leisure Limited Share Price, Chart and TipsSMEMar 06, 2018Rs 11.54 CrRs 30.00Rs 29.90 (-0.33%)
Narmada Agrobase LimitedNarmada Agrobase Limited IPO detailNarmada Agrobase Limited Share Price, Chart and TipsSMEApr 19, 2018Rs 7.48 Cr1.21xRs 32.00Rs 31.90 (-0.31%)Rs 34.95 (Feb 02, 2024)Rs 17.80 (Nov 20, 2023)

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  • The above list represents data from 2007 till date.
  • The current market price may not be a true reflection of the IPO performance as of today as it is includes the effect of price change on account of corporate actions like stock split, bonus (if any) till date.